The shares of this project management company gained up to 2 percent after the company received an LOA from Sanjay Gandhi Thermal Power Station, MP Power Generating Co. Ltd worth Rs 7.01 Crores.
With a market capitalization of Rs 1,642.03 crore, the shares of GE Power India Ltd were trading at Rs 244.25 per share, decreasing around 3.29 percent as compared to the previous closing price of Rs 252.55 apiece.
According to the exchange filing, GE Power India Ltd has received an LOA from Sanjay Gandhi Thermal Power Station, MP Power Generating Co. Ltd worth Rs 7.01 crore.
Furthermore, the LOA is for the Design, Engineering, and Supply of Wind Box casing with buck stay, bracings, etc. along with a modified air register and dismantling of the existing system and Erection of wind box along with modified air register in unit No 1 of 210 MW ABL make boilers of PH-1, SGTPS, MPPGCL Birsinghpur.
The company’s revenue decreased by 17 percent, from Rs 428 crore in Q2FY23 to Rs 354 crore in Q2FY24. During the same period, net loss decreased from Rs 113 crore to Rs 62 crore.
The company’s order book stands at Rs 15,600 million, with an order inflow of Rs 3,960 million. GE Power seeks to improve the Company’s operational performance and expand its order book.
GE Power met efficiency performance objectives while completing a 3X200MW steam turbine shafline refurbishment for NTPC-Ramagundam. This allows the power plant to run longer, and more efficiently, with less coal consumption, a lower cost per MW, and fewer CO2 emissions, all of which contribute to efforts to make coal power more dependable, economical, and sustainable.
The stock gave a 55.04 percent return in six months and an 81.63 percent return in a year.
GE Power India Ltd is in the business of engineering, procurement, and construction (EPC) of critical equipment for thermal and hydropower projects. It is a key participant in the Indian power-generating equipment industry.
Written by:- Abhishek Singh
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